If you are thinking about purchasing an investment property this year but you are worried whether or not you will be able to qualify for both home mortgage loans, don’t worry anymore. We now have a lender that will allow you to qualify using your rental property income if the house is currently rented out or going to be rented out. If your home is going to be rented out, you will need to provide a copy of the renters check or cashiers check that they used for their down payment money. Obtaining an invesment property home loan mortgage has never been easier. Remember your fico score determines...

I am often asked, “What is the credit score requirement for obtaining a jumbo home mortgage loans”? Well that all depends upon how much money you are willing to put down. The average down payment on a jumbo mortgage in Arizona varies from 20% to 35%. This is all dependent upon your fico scores and your debt to income ratio. On a jumbo loan you will need a middle fico score of at least 700. However, with a middle fico score of 700 you will be forced to put 35% down on a jumbo loan. If you have a middle fico score of 720, you can put 30% or 25% depending upon your debt to income...

When applying for a jumb home loan mortgage, the debt to income ratio requirements will vary from lender to lender. That is because every single investor has different guidelines. The typical debt to income ratio requirements on a jumbo loan will vary from 38% to 45%. Borrowers with lower fico scores will probably max out at the 38% range. While, borrowers with higher fico score requirements will max out at the higher range of 45% on a jumbo loan. When considering your next loan, consider Arizona Wholesale Mortgage Inc. Experience does matter! We’ve been in business since 1998. We are now...

Have you wondered why a lender will say they can do a 80% loan to value Jumbo loan and then once you fill out paperwork and submit your jumbo loan, they come back saying, “I’m sorry your house is in a declining market. We can only lender you 75% or maybe it’s 70% on a jumbo home loan mortgage. That’s because lenders rate the number of foreclosure properties by zip code. If you zip code has too many foreclosed properties than your area gets ranked as a high risk area. As a result, the banks will require every single new jumbo loan client to put more down on your home. How...

In case you haven’t Bank of America has temporarily stop funding cashout refinance loans. My source came directly from the National Mortgage News on January 20, 2012. However, at Arizona Wholesale Mortgage Inc., we are still providing cash out refinance loans to our customers in Arizona and New Mexico. If you are thinking about obtaining a cash out refinance loan, give us a call today to go over loan programs. When considering your next loan, consider Arizona Wholesale Mortgage Inc. Experience does matter! We’ve been in business since 1998. We are now serving the state of Arizona and New...